Which of the following best describes the Commercial Revolution?(1 point)
Responses
the “discovery” of the New World that prompted European nations to establish territories
the “discovery” of the New World that prompted European nations to establish territories
the establishment of new economic, political, and social systems as well as banking and a futures market
the establishment of new economic, political, and social systems as well as banking and a futures market
the influx of silver that resulted in economic turmoil for European nations
the influx of silver that resulted in economic turmoil for European nations
the exchange of goods, diseases, and ideas that resulted from contact between the New World and Old World
the exchange of goods, diseases, and ideas that resulted from contact between the New World and Old World
The correct answer is: the establishment of new economic, political, and social systems as well as banking and a futures market.
To determine which option best describes the Commercial Revolution, let's analyze each response:
1. "The 'discovery' of the New World that prompted European nations to establish territories" - This option refers to the period of exploration and colonization after the discovery of the Americas by Christopher Columbus in 1492. While this event was a significant part of the Commercial Revolution, it doesn't encompass the entire set of changes that occurred during that time.
2. "The establishment of new economic, political, and social systems as well as banking and a futures market" - This option captures the broader scope of changes that took place during the Commercial Revolution. It highlights the emergence of new economic systems, such as capitalism and mercantilism, as well as the establishment of political and social structures to support these systems. Additionally, it mentions the development of banking and futures markets, which were crucial advancements during this period.
3. "The influx of silver that resulted in economic turmoil for European nations" - While the influx of silver from the American colonies did have an impact on European economies, it does not encompass the entire Commercial Revolution. This response focuses on the disruptive effects of silver, rather than the broader changes that occurred.
4. "The exchange of goods, diseases, and ideas that resulted from contact between the New World and Old World" - This option describes the process of cultural and economic exchange between the Americas (New World) and Europe, Africa, and Asia (Old World). While this exchange was a key aspect of the Commercial Revolution, it does not sufficiently capture the establishment of new economic, political, and social systems.
Based on the analysis, the second option, "the establishment of new economic, political, and social systems as well as banking and a futures market," best describes the Commercial Revolution.